Bucyrus sees Chinese joint venture on horizon

  • 19-Jun-2008 09:16 EDT

Bucyrus and Huainan Mining Industry (Group) Co., Ltd. have established the basis for the potential creation of a joint venture in the Huainan mining area of Anhui province, China. The preliminary agreement contemplates Bucyrus owning a controlling interest in a joint venture that would involve the building of a new manufacturing facility in the Huainan mining area that would initially manufacture belt systems and armored face conveyors for resale to Huainan Mining, as well as to other third parties in China and elsewhere. The joint venture could manufacture and sell additional underground mining equipment as well. The parties believe that initial equipment manufacturing and sales by the joint venture could begin within nine months of final completion of the proposed joint venture.

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